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Investment banks pivot to unit trusts in fees hunt
Investment banks are already licensed to engage in the business of a fund manager whose primary role is managing securities portfolios on behalf of investors.
Investment banks have transitioned into fund management, unveiling collective investment schemes/unit trust businesses and joining a ‘gold rush’ underpinned on strong interest in pooled investments among investing Kenyans.
The number of investment banks in the unit trust space has more than doubled over the last five years to 10 from four previously, as existing firms move to establish collective investment schemes (CISs).
